The Union of Small and Medium Enterprises (UNISAME) has urged the chairman of the Federal Tax Reform Commission (FTRC) Masood Naqvi to impress upon the government to extend the time period for non filers to file their returns up to September 2016 to facilitate the bonafide micro and small entrepreneurs.
President UNISAME Zulfikar Thaver said the period extended up to September 2015 is too short and since negotiations between the traders community and the Federal Board of Revenue are going on, FTRC should recommend extension up to September 2016 and also recommend simplification of forms and efficient online filing system.
He invited the attention of the chairman FTRC to the fact that the SME importers, exporters,manufacturers, consultants and shop owners are all filers as their respective trade associations and chamber of commerce and industry insist on National Tax Number (NTN) and copy of last return whilst admitting them to membership or for that matter even renewal of membership.
Thaver elaborated that since those micro entrepreneurs whose income is below the taxable income of Rs 400000 are not obliged to file income tax returns, they should be spared and not penalized for being non filers.
He said UNISAME has comprehended the fact that the government is aiming at bringing the tax evaders to the tax net and has urged the FBR to roll up their sleeves and target the big players who are investing huge amounts in foreign currency, property and hoarding goods.
Thaver said since the agricultural income is exempted from income tax the tax evaders are showing huge exaggerated income from agriculture although for namesake they are holding small acreage of lands.
It would be proper if the FBR demands evidence of landholding and related provincial taxes paid by them to substantiate their claims of huge exempted income.
Secondly the other tax evaders who are holding bank accounts in names of their front men are happy to pay the withholding tax but are afraid of being trapped into disclosures.
The drug barons, the mafia, the extortionist and the owners of undeclared money who are importing ship loads of goods are the real evaders who need to be targeted.
As far as the SMEs are concerned they need a tax friendly policy and the FTRC should recommend to the FBR to treat them as such and impress upon them that it is not to trap them or harass them but to bring them into the tax net so that they can be treated as law abiding citizens and facilitate them to expand and grow their businesses without any fear of being tax evaders.
Posted in: Press Releases
Comments are closed.